Hansen today argued that it will change the Wallabies.
"They [Wallabies] will be different because he's such a great player and it's disappointing for Australia that this whole thing has happened. But it has and they'll want to move on from that and the rest of us have to move on, too."
Folau has been Australia's fullback in 63 of the 92 Tests that have taken place since he first made his debut in 2013.
He is now also the highest try scorer in Super Rugby history with 60, breaking Doug Howlett's long-held record in what has turned out to be Folau's final game of Super Rugby. Only David Campese and Chris Latham have scored more tries for Australia than Folau's 37.
Cheika last year used Dane Haylett-Petty throughout the Rugby Championship and against Wales in the autumn, with the Melbourne Rebels back seeming to be the best option.
Other candidates include Haylett-Petty's teammate at the Rebels, Reece Hodge, and in-form Brumbies fullback Tom Banks.
Kurtley Beale could also revert to fullback, where he has not started a Test for Australia since the 2017 defeat at Murrayfield against Scotland.
Hansen expects whoever the Wallabies pick as Folau's replacement will still be a good option.
"When you play test matches you want to play against the best. They've got some quality players that play fullback."
- Additional information Daily Telegraph UK